Larissa Schwartz Sells 1,899 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,899 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total transaction of $172,315.26. Following the sale, the insider directly owned 38,164 shares in the company, valued at approximately $3,463,001.36. This represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Larissa Schwartz also recently made the following trade(s):

• On Friday, December 5th, Larissa Schwartz sold 1,318 shares of Okta stock. The shares were sold at an average price of $85.71, for a total transaction of $112,965.78.
• On Tuesday, November 11th, Larissa Schwartz sold 1,318 shares of Okta stock. The stock was sold at an average price of $85.26, for a total value of $112,372.68.

Okta Price Performance

NASDAQ OKTA opened at $92.23 on Friday. The business has a 50 day moving average price of $86.21 and a 200 day moving average price of $90.52. The company has a market capitalization of $16.35 billion, a P/E ratio of 84.61, a PEG ratio of 4.31 and a beta of 0.76. Okta, Inc. has a 1-year low of $75.05 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The company had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same period in the previous year, the business earned $0.67 earnings per share. Okta’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta declared that its board has authorized a stock buyback plan on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OKTA shares. Canaccord Genuity Group reissued a “buy” rating and set a $120.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Roth Capital reissued a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Piper Sandler boosted their price target on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price objective on shares of Okta in a research report on Friday, December 12th. Finally, Berenberg Bank began coverage on Okta in a research report on Tuesday, November 18th. They set a “buy” rating and a $145.00 price objective for the company. Twenty-four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.09.

Hedge Funds Weigh In On Okta

Several institutional investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. purchased a new stake in Okta in the 2nd quarter valued at about $26,000. Root Financial Partners LLC purchased a new stake in Okta in the third quarter valued at approximately $26,000. Elevation Wealth Partners LLC increased its position in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the last quarter. Promus Capital LLC acquired a new position in Okta during the second quarter worth approximately $27,000. Finally, Kiker Wealth Management LLC raised its stake in Okta by 1,159.3% during the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Company Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.